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Icon PLC (ICLR) Trade Card™

Icon PLC (ICLR)
153.42 2.22 (1.47%)
Sector: Healthcare Equipment and Services
Published by Capital Market Laboratories on 2020-04-10

What does this rating mean?
STOCK RETURNS
3Mo: -8.8%   |   6Mo: +7.7%  |   12Mo: +10.8%

TECHNICAL RATING
10DMA: $126.7  |  50DMA: $153.0  |  200DMA: $155.3
What does this rating mean?

Fundamentals     

➜ ICLR generates $1.1827 in revenue for every $1 in expense, which is high and well above the sector average of $0.84.

ICON (ICLR) is a truly remarkable firm inside the bio/pharma sector and is borderline recession proof because of a wonderful business strategy. It's a contract research firm that provides clinical trial services for all phases of FDA trials to help biotechs, pharmas and even medical device companies bring their products to market more quickly. Much like the steel companies during the rail-road stock boom nearly a century ago, it's often times the companies that provide the core machinery behind an industry that are truly the most compelling. Illumina (ILMN) is another such company and you can read about it in the CMLviz Biotech Corner.

The biotech corner also has a comprehensive review of ICLR.

ICLR's revenue (TTM) has risen for more than five consecutive quarters. One year ago the firm reported $2.60 billion in revenue. For the most recent year it reported $2.81 billion (a 8.1% one-year rise). Two-years ago the firm reported annual revenue of $1.76 billion (up 59.6%).

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Technicals   |   Support: 115.95   |   Resistance: 177.22   

Swing Death Cross Alert: The short-term 10 day MA is now below the 50 day MA.

ICLR has a three bull (stock is range bound) technical rating because its trading above its 10- and 50-day moving averages, but below its 200- day moving average. The stock is up on the day but the 10-day MA is below the 50 day MA ("swing death cross").


Earnings Estimates
Earnings Date
2018-02-15
EPS
$1.41
Revenue (Mean)
$
Revenue (Median)
$
Last Quarter (Actual)
$725.41 million


Fundamentals Rating Summary


Metric Current 1yr Ago 2yr Ago Direction
Revenue (TTM US$ Millions)Trending Higher 2,806 2,596 1,758 Trending Higher

Operating Margin (QTR)Rising 1.18 1.17 1.70 Rising

Net Income (TTM US$ Millions)Trending Higher 376 323 281 Trending Higher

Cash from Operations (TTM US$ Millions)Rising 413 269 383 Rising

Capital Expenditures (TTM US$ Millions)
Rising
51 48 45
Rising




Stock Returns and Chart


ICLR is down -8.8% over the last three months and up +7.7% over the last six months. The stock price is up +10.8% over the last year.

Before we dig into the fundamental trends that drive the rating, let's look at a two-year stock chart with regression channel and 10-day momentum (on the bottom).

Note: You can change time horizons by clicking the or buttons near the bottom of the chart. You can examine a one minute day trading chart by clicking the at the top left corner of the chart.

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Now let's examine the visualizations of the critical financial measures.


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METRIC CURRENT 1YR AGO 2YR AGO DIRECTION
Revenue (TTM US$ Millions) 2,8062,5961,758Trending Higher

Revenue (TTM) is trending higher meaning that it has increased for at least five consecutive quarters (we can see the trend in the chart below the analysis).

Revenue over the trailing twelve months (TTM) for ICLR is rising. For the most recent (annual) period the company reported $2.81 billion from $2.60 billion a year ago, or a 8.1% change. The two-year change in revenue (TTM) is $1.05 billion (a 59.6% change).

What do all these numbers mean?
ICLR's fundamental rating benefited these results:
1. The one-year change was positive (but no extra points were given for a large percentage increase).
2. The two-year change was positive.
Finally, the up trend (consecutive quarters) in revenue benefited the fundamental (star) rating.

Let's look at Revenue (TTM US$ Millions) in the chart below.


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METRIC CURRENT 1YR AGO 2YR AGO DIRECTION
Operating Revenues/Operating Expense 1.181.171.70Rising

Operating Revenues/Operating Expense
Operating revenue over operating expense simply shows us how much revenue (in dollars) is generated for every dollar of expense. The ratio must be (at a minimum) above 1.0 in order for a company to turn an operating profit. For the latest quarter ICLR showed a ratio of 1.18.

What do all these numbers mean?
A year ago Operating Revenues/Operating Expense was 1.17. In the last year we can see operating margins are increasing and are also currently greater than 1.0 (the critical level).

ICLR's fundamental rating was affected from the operating margin numbers in two ways:
1. The current value is above 1.0 (the firm generates an operating profit).
2. The one-year change was positive (raises the rating).

Let's look at Operating Revenues/Operating Expense in the chart below with the total assets in the orange line.


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METRIC CURRENT 1YR AGO 2YR AGO DIRECTION
Net Income (TTM US$ Millions) 376323281Trending Higher

Net Income (after tax profit) over the trailing twelve months (TTM) for ICLR is rising. For the most recent trailing-twelve-months (TTM) the company reported net income of $376 (million). That's an increase in the most recent year from $323 (million) or a 16.49% change.

Net Income (TTM) (aka annual earnings) is trending higher meaning that annual earnings have increased for at least five consecutive quarters.

In our next chart we plot Net Income (TTM US$ Millions) in the blue bars and the quarterly results in the gold line. Note the rising bars from a year ago (four quarters ago).


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METRIC CURRENT 1YR AGO 2YR AGO DIRECTION
Cash from Operations (TTM US$ Millions) 413269383Rising

Cash from Operations (TTM US$ Millions) is a critical determinant of stock price since market cap is the present value of all future free cash flows. For ICLR the metric is falling (it was $269 million last year). For the most recent trailing-twelve-months the company reported Cash from Operations (TTM US$ Millions) of $413 million. That's an increase in the most recent year from $269 million or a 53.57% rise.

This cash metric is up $29 million from $383 million two-years ago.

For our next chart we plot Cash from Operations (TTM US$ Millions) in the blue bars through time. Note the falling bars from a year ago (four quarters ago).



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METRIC CURRENT 1YR AGO 2YR AGO DIRECTION
Capital Expenditures (TTM US$ Millions) 514845
Rising

Capital Expenditures (TTM US$ Millions) in the most recent quarter for ICLR was $51 million. CapEx is rising (4.64%) from last year's value of $48 million. Further, we can see that CapEx today relative to two-years ago is increasing (13.26%) from last year's value of $45 million.

In our final time series chart we plot Capital Expenditures (TTM US$ Millions) in the blue bars. Note the rising bars from one-year ago.


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